Wells Fargo & Company Lowers Crescent Energy (NYSE:CRGY) Price Target to $19.00

Crescent Energy (NYSE:CRGY) had its target price cut by Wells Fargo & Company from $20.00 to $19.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on CRGY. Truist Financial reduced their price objective on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. KeyCorp initiated coverage on Crescent Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective for the company. Wolfe Research began coverage on Crescent Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Crescent Energy in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $16.10.

Crescent Energy Stock Up 1.3 %

NYSE CRGY opened at $12.40 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The stock has a market capitalization of $2.20 billion, a P/E ratio of -61.98 and a beta of 2.19. The stock has a fifty day moving average of $11.69 and a 200-day moving average of $11.74.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. On average, equities research analysts forecast that Crescent Energy will post 1.28 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.87%. Crescent Energy’s payout ratio is -240.00%.

Insider Buying and Selling

In other news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $10.62 per share, with a total value of $99,233.28. Following the purchase, the director now directly owns 201,081 shares of the company’s stock, valued at $2,135,480.22. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders purchased 12,294 shares of company stock valued at $131,297. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

A number of institutional investors have recently made changes to their positions in the business. Jackson Creek Investment Advisors LLC increased its stake in Crescent Energy by 1.0% in the 2nd quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock valued at $1,078,000 after buying an additional 883 shares during the last quarter. ProShare Advisors LLC boosted its position in Crescent Energy by 8.5% during the first quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock valued at $165,000 after purchasing an additional 1,085 shares during the last quarter. Quadrature Capital Ltd grew its stake in Crescent Energy by 5.1% in the first quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock valued at $366,000 after purchasing an additional 1,503 shares in the last quarter. CWM LLC increased its position in shares of Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Crescent Energy during the 2nd quarter worth approximately $32,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.